Middle East: Tallow Market 2024

Tallow Market Size in the Middle East

The Middle Eastern tallow market expanded remarkably to $X in 2022, growing by 9.6% against the previous year. Over the period under review, consumption recorded a abrupt decline. The level of consumption peaked at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Tallow Production in the Middle East

In value terms, tallow production skyrocketed to $X in 2022 estimated in export price. Overall, production, however, recorded a perceptible curtailment. The pace of growth was the most pronounced in 2020 when the production volume increased by 57% against the previous year. The level of production peaked at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Tallow Exports

Exports in the Middle East

In 2022, overseas shipments of tallow increased by 163% to X tons, rising for the second year in a row after two years of decline. In general, exports continue to indicate significant growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, tallow exports soared to $X in 2022. Overall, exports enjoyed a significant expansion. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

In 2022, Israel (X tons) and Turkey (X tons) represented the largest exporters of tallow in the Middle East, together accounting for near 72% of total exports. Saudi Arabia (X tons) ranks next in terms of the total exports with a 12% share, followed by Iran (9.5%). Kuwait (X tons) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for Israel (with a CAGR of +198.2%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest tallow supplying countries in the Middle East were Israel ($X), Turkey ($X) and Saudi Arabia ($X), with a combined 89% share of total exports.

Among the main exporting countries, Israel, with a CAGR of +291.3%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the export price in the Middle East amounted to $X per ton, picking up by 41% against the previous year. Export price indicated strong growth from 2012 to 2022: its price increased at an average annual rate of +6.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, tallow export price increased by +100.1% against 2016 indices. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Israel ($X per ton), while Iran ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Israel (+31.2%), while the other leaders experienced more modest paces of growth.

Tallow Imports

Imports in the Middle East

For the sixth consecutive year, the Middle East recorded decline in overseas purchases of tallow, which decreased by -41.6% to X tons in 2022. Overall, imports continue to indicate a significant contraction. The growth pace was the most rapid in 2014 with an increase of 28%. Over the period under review, imports hit record highs at X tons in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, tallow imports fell dramatically to $X in 2022. Over the period under review, imports showed a dramatic slump. The pace of growth was the most pronounced in 2014 when imports increased by 16%. The level of import peaked at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Israel (X tons) was the major importer of tallow, mixing up 49% of total imports. It was distantly followed by Palestine (X tons), Jordan (X tons) and the United Arab Emirates (X tons), together comprising a 39% share of total imports. The following importers - Lebanon (X tons), Kuwait (X tons) and Syrian Arab Republic (X tons) - together made up 8% of total imports.

From 2012 to 2022, average annual rates of growth with regard to tallow imports into Israel stood at +3.7%. At the same time, Palestine (+50.5%), Syrian Arab Republic (+15.1%), Jordan (+6.4%) and the United Arab Emirates (+3.3%) displayed positive paces of growth. Moreover, Palestine emerged as the fastest-growing importer imported in the Middle East, with a CAGR of +50.5% from 2012-2022. Kuwait experienced a relatively flat trend pattern. By contrast, Lebanon (-4.5%) illustrated a downward trend over the same period. While the share of Israel (+46 p.p.), Palestine (+16 p.p.), Jordan (+12 p.p.), the United Arab Emirates (+10 p.p.), Lebanon (+3.1 p.p.), Kuwait (+2.4 p.p.) and Syrian Arab Republic (+1.6 p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Israel ($X) constitutes the largest market for imported tallow in the Middle East, comprising 54% of total imports. The second position in the ranking was held by Jordan ($X), with a 14% share of total imports. It was followed by Palestine, with an 11% share.

In Israel, tallow imports increased at an average annual rate of +5.6% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Jordan (+8.6% per year) and Palestine (+48.0% per year).

Import Prices by Country

In 2022, the import price in the Middle East amounted to $X per ton, picking up by 28% against the previous year. Import price indicated a modest increase from 2012 to 2022: its price increased at an average annual rate of +1.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, tallow import price increased by +67.3% against 2019 indices. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Jordan ($X per ton), while Syrian Arab Republic ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+4.8%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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